Thomson Reuters FX volumes inch up in June

Reuters Staff

2 Min Read

LONDON, July 11 (Reuters) - Daily currency trading volumes on Thomson Reuters Matching rose on the month for the first time since January in June, while volumes for buyside platform FXAll hit a record high of $141 billion, the company said on Friday.

Volumes at rival platform EBS have also recovered slightly over the past two months, up to $77 billion daily in June, but it has still been a lean year for both of the foreign exchange market’s main venues.

Daily trade on Thomson Reuters Matching fell in annual terms in June to $94 billion from $147 billion a year earlier. Volumes on EBS a year ago stood at $128.8 billion.

The fall is the result broadly of the low volatility - and hence lower volumes - that has marked major currency markets for much of the past 12 months but it also comes as other venues threaten the traditional dominance of EBS and Matching.

The slight recovery in June came as global settlement system CLS reported daily volumes in the market overall surged back to $5.46 trillion, up $500 billion on a month earlier. Much of that overall number is accounted for by the double-counting of currency pairs, as well as derivatives and forwards trading and internalised transactions at banks.

Volumes at Thomson Reuters’ multidealer platform FXAll were up from $127 billion in May and $123 billion in June a year ago. (Reporting by Patrick Graham)